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Venezuela Exporter Guide 2016

Country:

Venezuela

Report Highlights: U.S. agricultural product exports to Venezuela averaged a notable $1.4 billion per year from 2010-2014. Nevertheless, Venezuela’s economy is dependent on oil, which accounts for about 95% of export revenues. The precipitous fall in oil prices since 2015 has significantly diminished foreign reserves, challenging Venezuela’s financial capability to import goods. As a result, the value of U.S. agricultural exports in 2015 plummeted almost 50% to $672 million. In 2016, U.S. agricultural product exports will closely match that of 2015 as the price for oil remains low.